I'm broke, what do I do now?

In the year 2008 the company that I had created and which I had put in my faith, my heart, my time and money was broke. Today in retrospective I understand that I made many mistakes, many of them due to my lack of experience. Currently and for some time to come, I’m still paying debts that were acquired by this company.

It’s not easy to overcome a company that went broke, which in my case also translated to a personal situation. As I’ve mentioned in the past, we are taught to avoid failure, but schools don’t teach us how to become successful. For instance, is sad to see how people that went broke or had financial problems, make decisions to end their life. When I went broke I learned that this wasn’t the end of my life, but just a minor setback.

When I realized my company was on the verge of failure, it was something difficult to accept. At that time, I was sick of the company and didn’t want to know anything about it and I just wanted to quit. I was sad and depressed and it was a situation that also affected my family.

A mistake I made from the start is that I always had a Plan B. I knew that if for some reason the company failed, I would be able to pick my self up, find a job and start all over. Although I had this Plan B, I thought I would never had to use it. The reality is that this Plan came into action and really fast. For my current company there is no Plan B, at least for the time being. In fact the only plan I have is to make this company a success.

When you fail big as I did, for some time you can’t see the whole picture. To start, we don’t know how we will overcome this situation. Also, we don’t understand that tomorrow will be a better day. With this experience I learned that there are many people that are willing to help you, although others will run and hide and some will even try to take economic advantage of your difficult situation. I had the luck to count on my closest family members, who were always by my side.

After my company went under I was sad for several weeks but I took this a small sabbatical. I didn’t have a job so I was able to analyze my life and define what I would do in the future. As I had plan earlier, I was able to get a job, that wasn’t my dream job, but allowed me to get on my feet, grow, learn to respect myself once more and learn many new things.

With the aid of my family members, this job and a course I took later I was able to regain my strength and the reins of my life. Before two years of my company going broke I had quitted my job and was starting a new entrepreneurship.

If you go broke, search for help from you family members and friends, as many will help you. Plus this is an enriching experience for your future. I whish going broke wasn’t as tough, because what you will learn from this experience isn’t taught in books or universities. Someone who fails this way will look to life a different way and will be much better than people who haven’t lived this situation.

Image taken from Flickr.com

Leave a Reply